Govt Seeks K57.2bn To Drive Economy

GOVERNMENT is targeting to mobilise K57.2 billion from Zambia’s cooperating partners to effectively implement programmes outlined in the Seventh National Development Plan (7NDP) for the benefit of citizens. Minister of National Development Planning Alexander Chiteme said in an interview that Government is working with various cooperating partners to effectively implement all development programmes. Mr Chiteme said the goals and objectives set out in the 7NDP, which outlines Government’s desired development outcomes, are key in transforming Zambia into a middle-income country by 2030.

“Government will continue to appreciate the valuable contribution of our cooperating partners. Government will also continue mobilising more resources to finance programmes in the 7NDP,” Mr Chiteme said.

He said the successful implementation of the 7NDP requires adequate resources and that it is important for cooperating partners to support the efforts of Government to improve the welfare of citizens. He said the Patriotic Front (PF) administration remains committed to delivering development to all parts of the country to attract more foreign direct investment. Mr Chiteme said it is important for the international community to increase their financial support to Zambia.

He said Zambia values the sound relations it enjoys with the international community and will continue working with all its strategic partners to spur economic growth. He said Government is also working on increasing traditional sources of financing and exploiting alternative sources such as joint ventures, private sector investment and public private partnership to mobilise more resources required for implementation of the 7NDP.

Mr Chiteme urged the civil servants to own the implementation of the 7NDP in their respective districts. He said civil servants are critical to driving Government’s development agenda and should closely monitor the works being undertaken by contractors to ensure good workmanship. Mr Chiteme said Government is spending colossal sums of money on infrastructure development aimed at uplifting the lives of Zambians without leaving anyone behind.

And tax policy changes will help Zambia reduce its dependence on external financing and contribute to poverty reduction at household level, Zambia Revenue Authority (ZRA) commissioner general Kingsley Chanda has said. Mr Chanda said the measures will foster local investment and contribute to poverty reduction through an all-inclusive participation in economic activities. He said the re-introduction of sales tax will immensely raise the contribution of consumption taxes to total revenues.

“The tax policy changes, if well implemented, could significantly enhance domestic revenue mobilisation and help the country reduce its dependence on external financing. “From the presented measures, it is expected that revenue contribution of the mining sector to total revenue collection in 2019 and beyond will significantly increase,” Mr Chanda said.

He said the projected increase in revenue collection and poverty reduction will be based on the manner in which the set of the measures are implemented without significant departures from the policy intent either due to non-acceptability by the sector or unexpected adverse economic conditions.

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